Background*

Mr. Terrence P. Laughlin, also known as Terry, has been the President of Strategic Initiatives at Bank of America Corporation since April 24, 2014. Mr. Laughlin is responsible for overseeing Global Corporate Strategy, Legacy Asset Servicing, International Governance, including governance of the company’s international legal entities, and Enterprise Client Coverage. In addition, he is charged with working with the Bank of America’s executive management team to drive Bank ... of America’s Simplify & Improve program. He also has responsibility for MBNA, Ltd., the Bank of America’s consumer credit card business in the U.K. He served as the Chief Risk Officer at Bank of America Corporation since August 2011 until April 24, 2014 and was responsible for overseeing Bank of America’s governance and strategy for global risk management, including relationships with key regulators and supervisory institutions worldwide. A member of Bank of America’s executive management team, Mr. Laughlin leads the Global Risk Management organization. He leads enterprise initiatives for managing risk well and sustaining a strong risk culture. Mr. Laughlin oversees the development and implementation of risk management measures across both global enterprise and independent line-of-business risk teams. He served as the Head of Legacy Asset Servicing at Bank of America Corporation from February 2011 to July 2011 and as its Executive of Credit Loss Mitigation Strategies and Secondary Markets - Home Loans Business from July 31, 2010 to July 2011. Mr. Laughlin established Bank of America Legacy Asset Servicing with responsibility for resolving legacy mortgage-related issues. He served as the Chief Executive Officer and President of OneWest Bank, FSB. Mr. Laughlin had overall responsibility for managing OneWest's operating businesses and key risk and support functions. While at OneWest, he led the acquisition of several additional FDIC-assisted acquisitions in Southern California, including First Federal Savings Bank, FSB, and La Jolla Savings Bank, FSB. Mr. Laughlin is a veteran banking executive with over 30 years of banking experience who has held senior positions at Merrill Lynch Bank & Trust, FleetBoston and Mellon Bank. He served as a Senior Vice President at FleetBoston Financial Corporation since 2001. Mr. Laughlin served as a Director of Corporate Development at FleetBoston Financial Corp. since 1993 and it’s Managing Director of Strategic Planning in 2000. He served as Chairman and Chief Executive Officer of Merrill Lynch Bank & Trust, and FleetBoston Financial, where he led strategy and development and oversaw the international banking business including its market-leading franchise in Latin America. He had previously served as the Managing Director at Merrill Lynch & Co., Inc from February 2005 to May 2008. Mr. Laughlin serves as a Director of Merrill Lynch & Co., Inc. and The Depository Trust & Clearing Corporation. Mr. Laughlin serves as a Member of the Board of Trustees at the University of Pittsburgh.

President, Vice Chairman, Chairman of County Area Banking Business Development Committee, Member of Nomination & Remuneration Committee and Member of Strategic Planning CommitteeAgricultural Bank of China Limited

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